Future Enterprises Q4 net profit at Rs 16.53 crore

Homegrown retail major Future Enterprises Ltd today reported a standalone net profit of Rs 16.53 crore for the fourth quarter ended March 2016.
The company, erstwhile known as Future Retail, had posted a net profit of Rs 10.31 crore in the January-March quarter of the previous fiscal.
Future Enterprises (FEL) net sales stood at Rs 676.88 crore in the quarter under review. It has net sales of Rs 2,739.76 crore in the year-ago period, the company said in a BSE filing.
Meanwhile, FEL informed that "figures are not comparable with the previous year/quarter" due to demerger of the retail business into Bharti Retail and demerger of the retail infrastructure of FRL into the company.

For the full 2015-16 fiscal, FEL's standlone net profit was at Rs 11.83 crore. It was Rs 74.06 crore in the fiscal previous to it.
Its net sales were at Rs 7,981.08 crore in 2015-16 as against Rs 10,157.79 crore in 2014-15.
Meanwhile, in a separate filing FEL has informed that its board in a meeting today has recommended dividend of Rs 0.10 ) per equity share of Rs 2/- each and Rs 0.14 per class B shares (Series 1) of Rs 2/- each.